Bitcoin breaks 10 month trend line support at 7650

Bitcoin

Bitcoin breaks 10 month trend line support at 7650. If we cannot hold above 7500 then bulls have lost the battle & the outlook turns significantly more negative. On a break below 7200 see no reason for us not to retest the April low at 6500/6450 but I doubt it will hold this time.

Bulls need to beat 7600 but we run in to resistance at 7850/7900. Above 8000 allows a recovery to 8260/90.

BITCOIN

BEST BROKERS TO TRADE CRYPTO

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.